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Kuwait's crude oil production rose sharply to 1.65mn barrels ⁠per day in June from 580,000 bpd in May, a source familiar with the matter told Reuters on Thursday, as the Opec member boosts exports through the Gulf following the US-Iran interim peace agreement.The jump in Kuwaiti output adds to signs that Gulf oil flows through the Strait ​of Hormuz are recovering rapidly following disruption caused by the Iran war, with stranded cargoes gradually clearing the Strait of Hormuz and exporters ‌restoring production.Kuwait was producing about ⁠2.5mn ​bpd before Iran's effective closure of the Strait in ​response to US and Israeli attacks at the end of February which prompted the country and other Gulf producers like Saudi Arabia and Iraq to cut millions of barrels per day of oil output.Daily production rose to as high as 1.9mn bpd in the last 10 days of June, the source, who declined to be identified by name, added. Oil prices extended earlier losses on Thursday following ‌the Reuters report. Crude ‌had already been trading ⁠at its lowest level since late February, just before the ⁠war began.A spokesperson ⁠for state oil company Kuwait Petroleum Corp did not immediately reply to a Reuters request for comment. The company on June 18 said that all force majeure notices issued during the war were lifted, while a tender document a day later showed the ​company was offering cargoes to buyers.Kuwait was one of the hardest-hit countries in the Gulf from the Iran war because of the effective halt to flows through the Strait. Unlike Saudi Arabia and the United Arab Emirates, which can use export routes other than the Strait of Hormuz, Kuwait relies almost entirely on the waterway for its crude exports, leaving it effectively cut ‌off from ​key markets such as Asia during the disruption. 

Qatar Saturday expressed great satisfaction with the progress in negotiations and the Pakistani mediation's announcement of reaching the final text of a peace agreement, voicing hope that the American and Iranian sides will sign it soon.His Excellency Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim al-Thani conveyed the position during a telephone conversation with Pakistani Prime Minister Shahbaz Sharif.The PM reiterated Qatar's full support for Pakistan's mediation efforts aimed at ending the crisis through peaceful means, underlining the need for all parties to engage with these efforts to create the appropriate conditions for a comprehensive agreement that brings sustainable peace to the region.During the call, the two sides reviewed bilateral relations and ways to support and strengthen them, as well as the latest developments in the region and Pakistan's mediation efforts aimed at de-escalating tensions in a manner that enhances security and stability.  

OilBrent crude prices fell on Friday to their lowest levels since early March as traders grew more confident about an imminent peace agreement between the US and Iran.Brent crude futures settled at $87.33, and US West Texas Intermediate crude (WTI) finished at $84.88. For the week, Brent fell 6.2%, while WTI fell 6.3%.US President Donald Trump called off threatened air strikes against Iran on Thursday. According to Iran's Mehr news agency, final negotiations on the memorandum will focus on nuclear and economic issues but will exclude discussions on Iran's missile programme.**media[457103]**One caveat, however, is that global and regional oil stocks are still low and could drift lower, even with a deal, as it would take time to ensure uninterrupted oil flows, analysts said. GasAsia's spot liquefied natural gas (LNG) price rose last week to its highest level in 11 weeks as markets monitored developments in the Iran conflict and anticipated stronger demand driven by hot weather.The average LNG price for July delivery into northeast Asia was $19.15 per million British thermal units, up from $18.80 per mmBtu the week before.Japanese and Korean stock levels are below seasonal averages, and northeast Asian buyers have been buying cargoes to bolster stocks.**media[457104]**In Europe, the Dutch TTF gas price settled at $15.82 per mmBtu, posting a weekly loss of 4.0%. European gas fundamentals remain fragile, with upside risk. Global LNG exports are down year-on-year in June, while Asian LNG imports continue to rise, potentially increasing cross-basin competition for cargoes in Q4 or even earlier if summer risks materialise.This article was supplied by the Abdullah bin Hamad Al-Attiyah International Foundation for Energy and Sustainable Development. 

In a significant step forward for the peace process, the Doha Framework Agreement for Peace between the Government of the Democratic Republic of the Congo (DRC) and the Congo River Alliance (AFC/M23) was signed Saturday during a special ceremony at the Sheraton Doha.The signing took place in the presence of His Excellency Dr Mohammed bin Abdulaziz bin Saleh al-Khulaifi, Minister of State at the Ministry of Foreign Affairs. His Excellency Dr al-Khulaifi affirmed that the framework agreement represents an important milestone in efforts to consolidate peace and stability in eastern DRC.**media[381877]**He reiterated Qatar’s commitment to supporting the peace process until a comprehensive and lasting settlement is achieved for the Congolese people. Speaking at a press conference alongside Massad Boulos, US Senior Adviser for Arab and African Affairs, His Excellency the Minister highlighted the genuine political will and responsible engagement demonstrated by both parties, noting that these qualities made the agreement possible.**media[381882]**He also expressed appreciation for their confidence in Qatar’s role in facilitating and advancing the peace efforts. His Excellency Dr al-Khulaifi recalled that Qatar’s mediation efforts began when His Highness the Amir Sheikh Tamim bin Hamad al-Thani hosted President Félix Tshisekedi of the DRC and President Paul Kagame of Rwanda in Doha, and when President Tshisekedi subsequently opened the door for dialogue with the AFC/M23 movement.This latest agreement marks a new and important milestone in the ongoing peace process led by Qatar, building on the progress made with the Doha Declaration of Principles signed on 19 July. The Framework reaffirms the parties’ shared commitment to addressing the root causes of the conflict through structured dialogue, confidence-building measures, and a phased approach to de-escalation and stabilisation.**media[381878]**It emphasises the protection of civilians, respect for human rights, the safe and dignified return of displaced persons, and the promotion of national reconciliation and unity.Serving as the foundational reference document for the broader peace process, the Doha Framework sets the stage for a series of forthcoming protocols, annexes, and technical arrangements that the parties have agreed to develop.**media[381880]**These instruments will address operational details such as ceasefire consolidation and verification, troop disengagement modalities, humanitarian access, reintegration mechanisms, and support for national dialogue.Once adopted, these protocols and annexes will form an integrated and harmonised part of the Doha Framework for Peace, ensuring coherence, clarity, and phased implementation. Qatar commended the constructive engagement of both parties and expressed appreciation for the cooperation of regional and international partners supporting the process.**media[381881]**In particular, Qatar acknowledged the contributions of the US, Togo, and the African Union Commission, whose sustained support has played a key role in advancing the peace efforts.

Pakistan called on the international community to take effective and urgent measures to halt the Israeli occupation's violations and ensure the full implementation of the ceasefire in the Gaza Strip. Pakistan's Foreign Ministry condemned in a statement the renewed attacks by the Israeli occupation forces on Gaza, which have resulted in the martyrdom of dozens of civilians. It added that such actions contradict the spirit of the peace agreement signed in the Egyptian city of Sharm el-Sheikh in the presence of leaders of the Arab and Islamic world, the United States, Europe, and the United Nations. The Ministry reiterated Pakistan's continued and steadfast support for the Palestinian people and its demand for an immediate cessation of Israeli hostilities and the establishment of an independent and sovereign Palestinian state on the 1967 borders with East Jerusalem as its capital.